This Week's Chicago Deal Sheet
One of Chicago’s newest retail assets finally changed hands last week. DDR bought 3030 North Broadway, a 138k SF shopping center in Lakeview anchored by a Mariano’s Fresh Market, for $81M. The deal was first announced last June.
The deal continues a trend in the Chicago market of grocery-anchored retail selling for big bucks. Other tenants in the new building include XSport Fitness, Starbucks and PNC Bank. Mid-America Real Estate’s Ben Wineman and Joe Girardi were the exclusive brokers on behalf of the seller, a JV between Barrett & Porto Real Estate, The Taxman Corp and Newport Capital Partners.
HFF’s Amy Sands and Clinton Mitchell repped Invesco in the sale of Broadway at Surf (pictured), a three-story, 134k SF retail center anchored by a Walmart Neighborhood Market. The buyer was a JV of Intercontinental Real Estate and Fairbourne Properties. HFF’s Timothy Joyce and Christopher Knight arranged the acquisition financing.
CBRE completed the following transactions:
- David Saad, Ryan Bain, Zach Graham and Tom Harmon repped Command Transportation in the sale of a 44k SF industrial space at 7520 Long Ave in Skokie. Colliers International’s Chris Volkert repped the buyer.
- John Jaeger, Dan Cohen, MJ Zaring and Justin Ross repped Arthur Hill & Co in the $10.8M sale of 100 condos at Flats on LaSalle at 1140 North LaSalle St.
Marcus & Millichap’s Brian Parmacek and Kyle Stengle repped both parties in the $1.4M sale of a 7k SF Advance Auto Parts at 340 South Division St in Harvard.
Transwestern’s Gary Nussbaum, Michelle Monhaut and Paige Gunn repped Colony Realty Partners in the $10M sale of 155 North Pfingsten, a three-story, 120k SF office building in Deerfield (pictured) to Boxer Properties.
Lee & Associates completed the following transactions:
- Jeff Janda and Mike Plumb repped Buy-Rite Wholesale in the sale of a 29k SF industrial building at 875 North Lively Blvd in Wood Dale. CBRE’s John Hamilton repped the buyer, Weld Seam.
- Chris Nelson and Michael Androwich Jr. repped YPV Distribution in the acquisition of a 156k SF warehouse at 825 East 26th St in LaGrange. CBRE’s Pete Roberson repped the seller, First Industrial Trust.
NAI Hiffman’s Mark Moran, John Whitehead and Brett Tomfohrde repped the seller in the disposition of 160 Tower Drive, a 101k SF industrial building in Burr Ridge. The buyer was Accurate Partitions.
Jameson Commercial Real Estate’s Ari Topper repped both parties in the sale-leaseback of a single-story mixed-use building at 1360 West Lake St in Fulton Market.
Adelphia Properties’ George and Simeon Spirrison repped the buyer in the $5.2M acquisition of a 12k SF multi-tenant retail building at 1480 North Orchard Rd in Aurora.
Quantum Real Estate Advisors’ Chad Firsel repped both parties in the sale of Schiller Commons, a 30k SF multi-tenant retail center (shown) at 9276-9310 East Irving Park Road in Schiller Park.
Baum Realty’s Danny Spitz and Greg Dietz repped the seller in the $1M sale of a 4,150 SF retail building at 1107 Waukegan Road in Glenview.
Brown Commercial Group’s Mike Antonelli repped M&D Properties in the sale of a 24k SF industrial building at 385 Wegner Road in West Chicago. The buyer, AMREJ Properties, was repped by Darwin Realty’s Brendan Sheahan.
CBRE’s Jake Ehrenberg and Scott Brandwein repped Computer Aided Technology in its 14k SF lease renewal and expansion at 165 North Arlington Heights Road (shown) in Buffalo Grove. Hamilton Partners’ Mike Rolfs repped the landlord.
HFF completed the following transactions:
- Matthew Schoenfeldt and Mike Kavanau arranged $125M in financing for Eugenie Terrace, a 44-story, 575-unit residential tower in Lincoln Park. Working on behalf of Eugenie Terrace Associates, HFF placed the 10-year, fixed-rate loan with an international life insurance company. This loan replaces existing fixed-rate financing that HFF secured on the borrower’s behalf in 2007.
- Matthew Schoenfeldt arranged $27M in financing for The Enclave at Winghaven, a 400-unit, Class-A multi-housing community in O’Fallon, Mo.
@properties hired 30-year real estate veteran Tere Proctor. Proctor has managed sales for some of the most recognizable condominium developments in Chicago, including 2550 North Lakeview, Trump International Hotel and Tower Chicago, The Fordham, 65 East Goethe and Olympia Centre. Proctor will focus primarily on luxury residential sales in the downtown core, the Gold Coast, Streeterville, River North and Lincoln Park.
Brett Hood joined NorthMarq Capital as SVP of its Chicago-based regional office. Hood is responsible for providing clients with creative financing solutions on behalf of the firm’s direct relationships with Fannie Mae, Freddie Mac, FHA, life company correspondents, commercial banks and CMBS lenders.
Mid-America Asset Management promoted Sarah Norlander to VP. Norlander specializes in landlord representation with extensive leasing experience in grocery-anchored, power and lifestyle centers, and mixed-use and ground-up development projects throughout the Chicago area.
Wright Heerema Architects hired Scott Delano as design director. A 25-year industry veteran, Delano came to Wright Heerema from Interior Architects.
Arthur J. Rogers & Co's Norm Ross retired after 17 years with the firm. Ross joined the company in 2000 as VP of industrial/commercial properties.
CORRECTION, JAN. 25, 11:52 A.M CT: The Adelphia Properties sales transaction was for $5.2M at 1480 North Orchard Rd in Aurora. The story has been updated.